Romania officially the best place to develop PV projects within the European Union

With the decision of The Chamber of Deputies of the Romanian Parliament that voted on Tuesday 26-06-20122 on the the amendments of the emergency ordinance 88, Romania now officially has the new Green Energy Law in place.

The decision states that the 6 green certificates currently granted to solar energy will be cut starting January 1 2014 – if overcompensation is found – giving developers and investors enough time to develop and connect their projects and benefit from a tariff that is currently the highest in the European Union.

The law that approves the amendments of the emergency ordinance that modified the renewable energy law 220/2008 needs to be promulgated by the President of Romania and will be published in the Official Gazette shortly.

The energy regulator ANRE has been analyzing renewable projects over the past few months and should issue a report this June, stating if a certain technology yields 10 percent over the approved investment return rate (IRR) that is mentioned in the 220 law. The IRR of 11.6 percent on solar has already been exceeded and producers can now recover their investment in four years instead of seven.

Today as we write, Romania has 2 MW of installed solar capacities but over 800MW has the technical connection permit (ATR).

The very generous scheme combined with the lowering of FIT in Bulgaria with an alleged 45% as well as cuts on the way or already taken place is many other member states, makes Romania the “place to be”.

When you are interested in investing in PV in Romania then do not wait to long. Not only the approval has been driving prices up but also the inflow of investors has increased with 500% the last month.

RESbroker has an extended portfolio of projects in Romania but also provides development partners for EPC providers or investors when developing a project from scratch, thus saving a lot of money on the acquisition of a project. This also comes with a catch, a developer takes risks during the development as it might turn out that the connection cost are higher than expected or that the permits are difficult to obtain.

LAMAR company can provide project management for those who wish to use their own technology using local companies. The project management then helps an investors coordinating the workforce and see that the project is finished in time.

RESbroker: info@resbroker.com

LAMAR Company: info@lamarcompany com